Topic: Why bitcoin is not supported in some countries? - page 24. (Read 98470 times)
Everything has some pros and cons,so do Bitcoin.Bitcoin provides us with many advantages but some of it's advantages can be considered as it's disadvantages also, such as it's decentralized nature .Due to it's decentralized nature no government or bank have a control over it so they are not able to track the transactions made through Bitcoin.This make the transactions anonymous and tax free . Many people uses this feature of Bitcoin for illegal dealings of drugs and ammunition. This is the reason why some countries are not supporting it or declaring it as a legal asset or currency .
its because the governments of other country warns people and some news are fake if the government win againts bitcoin they are planning to enter in the crypto currencies and making their own crypto
Countries not supported bitcoin because many features on bitcoin are considered dangerous, for example is anonymous, decentralized and so on, with anonymous features of course will make everyone free to save money from crime such as corruption, drugs and so on.
Bitcoin and cryptocurrencies are a phenomenon that strongly polarize society, economists and governments. While countries like Japan or Belarus want to take advantage of the new technology, other countries prefer to simply introduce bans.This prohibition does not apply to stock exchanges or other services. just got banned for banks. Crypto money exchanges are still allowed to work freely in the country.
In my opinion, some countries are still hesitant to support bitcoin in their respective countries because they do not have any special regulation related to bitcoin transactions that citizens do so the government does not get tax benefits from people who make transactions using bitcoin. I think that is the reason why there are still many countries that do not support bitcoin.
Its not supported by some other countries because government has no proper regulations of it and they cannot get taxes, but no matter what their excuses are, they have no rights to take away freedom of choice from their citizens.
so maybe bitcoin is not supported in some countries because maybe they think it will be a threat to their currency and it will start to collapse the value.
Hayek once said that the establishment of a legal currency system is the biggest lie in human history. As long as the international financial system based on legal tenders remains unchanged, people’s fears and fears about finance will not disappear, and speculation on Bitcoin will always exist. Especially in China, people here are so gambling. Many young investors do not have confidence in the currency issued by their own government. In their eyes, although bitcoin doesn't have to be reliable, the government-issued currency is obviously more indecisive. Therefore, the two evils are lighter. They want to use Bitcoin as a means of hedging, or use Bitcoin instead of the legal currency to perform basic functions such as payment and transfer. Therefore, the Chinese government prohibits Bitcoin.
My country prohibits all forms of gambling and drugs, but for the circulation of bitcoin does not prohibit it and support it with notes used for criminal acts and fraud. Thanks
Of course this is sad because it will make bitcoin users panic, I hope the bitcoin banned country immediately consider the benefits side of bitcoin because if viewed in fact bitcoin can improve the country's economy. I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
In some other countries they Dont supported bitcoin because they don't want their currency to be dead
In my country, only when you discover that you trade bitcoin, you may be taken to jail. They think this is an illegal and dangerous thing.
I think the reason behind why bitcoin is not supported in some countries is because bitcoin is decentralized. Government doesn't allow any form of system in a country which is not taxable. That's my thought.
It is true that in some countries there is a ban, maybe it's because of the fear of bitcoin to be misused in money laundering or even for terrorist financing, but that is very detrimental to many people in a prohibited country.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Many government affraid about fast bitcoin growing. Its happen because they have not controll on bitcoin price and supply. Its much wise if government make regulation on bitcoin and earn some taxes rather than banning
i think because the country want their citizen is safe
because bitcoin is still vulnerable for hacker
i dont know for sure
because bitcoin is still vulnerable for hacker
i dont know for sure
Many countries are afraid that bitcoin supported will be dangerous, we all know that the bitcoin feature is anonymous so that everyone can store and transact safely without being identified their identity.
Some of the countries or their governments are very conservative and they reject all attempts to break or bypass their conventional economic system. And they simply ban bitcoin or all other digital assets.
Despite the advancement of technology these days, there are still some countries who still do not accept this kind of change. Some are afraid of the harm it may cause to the citizens and the country itself. They might see it as a threat to their economy. Some countries may seek new ways to cope up with the growing technology but there are still who do not want to take risk and better remain with their traditional currency.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Govs are afraid of people getting on their pay so, they can't track you if you use crypto for payments.
My country prohibits all forms of gambling and drugs, but for the circulation of bitcoin does not prohibit it and support it with notes used for criminal acts and fraud. Thanks
Many countries have a different policy. They are not interested in what is happening all over the world. for example, a historical phenomenon like the USSR. They existed within themselves and they did not need someone's cryptocurrency.
Well, the crypts were not there. And It clearly showed that if a country lives within itself only, then sooner or later this ideology becomes destructive for themselves.
because they consider digital currency as freedom of generating part time money that cannot be imposed through taxation.
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